Galantas Gold Completes $100 Million Private Placement

On May 28, 2026, Galantas Gold completed a previously announced brokered private placement, raising gross proceeds of $100 million by issuing 181,819,000 units at $0.55 per unit (full overallotment exercised). Each unit comprises one common share and one‑half of a share‑purchase warrant; a whole warrant entitles the holder to buy one Galantas share at $0.80 for 24 months. The net proceeds are earmarked for exploration/development at the Indiana gold‑copper project and the pending Andacollo gold project in Chile. Strategic shareholders Eric Sprott (now ~18.45%), Ocean Partners (~13.32%), and Melquart (~8.05%) participated. Following the placement, Galantas will have 734,628,488 shares outstanding, with AIM admission expected around June 2. The close of the offering finalizes the equity raise that was first announced on May 10 and upsized with the agent’s overallotment.

The news is the expected conclusion of a financing that was fully described in the May 10 and May 26 releases. Market anticipation had already been built into the stock’s recent trading between $0.45‑$0.49, following an initial spike to $0.61. The completion removes residual uncertainty but does not bring genuinely new information that materially alters the company’s outlook. The offering price of $0.55 represents a premium to the last close ($0.45), underscoring strong institutional support, yet the transaction is precisely what management had guided. Therefore, this qualifies as Routine – Positive under the framework; it is an incremental confirmation rather than a game‑changing event.

Positively, the $100 million cash infusion (roughly $95 million net) fully finances the near‑term Andacollo acquisition cash component (US$4.5 million at closing), the 2026 Indiana option payment, and gives ample working capital for exploration. The warrant overhang (90.9 million new warrants struck at $0.80) adds potential future dilution, but that is standard for a junior miner. No hidden negatives surfaced.

Galantas Gold Corporation is a Canada‑based gold exploration and development company, now focused on its Chilean assets after deconsolidating the Omagh (Northern Ireland) mine through a JV with Ocean Partners. Its flagship projects are: - Andacollo Oro Gold Project (to be acquired): Past‑producing open‑pit heap‑leach gold mine in Chile with existing infrastructure, water rights, and environmental permits for restart. A May 2026 NI 43‑101 resource estimate shows 1.47 Moz Indicated (@0.45 g/t Au) and 4.54 Moz Inferred (@0.41 g/t Au) – totaling 6.01 Moz Au. Historical production totaled 1.12 Moz. - Indiana Gold‑Copper Project: High‑grade underground veins in northern Chile; inferred resource of 4.93 Mt @ 2.24 g/t Au and 1.31% Cu (355.5 koz Au, 64.7 kt Cu). A PEA and underground development planning are underway.